FY2024 Earnings Estimate for Delek US Holdings, Inc. (NYSE:DK) Issued By Zacks Research

Delek US Holdings, Inc. (NYSE:DK) – Equities researchers at Zacks Research dropped their FY2024 earnings estimates for Delek US in a research note issued on Thursday, June 20th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of $0.80 for the year, down from their prior forecast of $0.81. The consensus estimate for Delek US’s current full-year earnings is $0.88 per share.

Several other brokerages also recently commented on DK. TD Cowen downgraded shares of Delek US from a “hold” rating to a “sell” rating and reduced their target price for the stock from $25.00 to $20.00 in a report on Monday, June 10th. Wells Fargo & Company lowered their price objective on shares of Delek US from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Mizuho reduced their target price on shares of Delek US from $31.00 to $27.00 and set an “underperform” rating on the stock in a report on Thursday, June 20th. Piper Sandler reduced their target price on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Delek US from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 21st. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Delek US Stock Performance

Shares of DK opened at $24.51 on Monday. The firm has a 50-day moving average of $26.76 and a 200-day moving average of $27.30. Delek US has a one year low of $21.68 and a one year high of $33.60. The company has a market cap of $1.57 billion, a PE ratio of -19.77 and a beta of 1.29. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.04 and a quick ratio of 0.64.

Delek US (NYSE:DK) last released its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.28 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share.

Institutional Trading of Delek US

Several hedge funds and other institutional investors have recently modified their holdings of DK. Spirit of America Management Corp NY bought a new position in shares of Delek US in the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in Delek US during the 1st quarter valued at $31,000. Strs Ohio purchased a new position in Delek US during the 4th quarter valued at $95,000. Allspring Global Investments Holdings LLC purchased a new position in Delek US during the 1st quarter valued at $172,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Delek US by 627,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after buying an additional 6,274 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Activity

In related news, Director Richard J. Marcogliese purchased 2,750 shares of Delek US stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the transaction, the director now owns 42,863 shares in the company, valued at $1,028,283.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 2,854 shares of company stock worth $78,241 over the last quarter. Insiders own 0.35% of the company’s stock.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.08%. This is an increase from Delek US’s previous quarterly dividend of $0.25. Delek US’s dividend payout ratio is currently -80.65%.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.